Core Insights - The cryptocurrency market is experiencing significant volatility, with over $1.5 billion in long positions liquidated, leading to a severe market crash [1] - The rise of perpetual contracts, a type of derivative without an expiration date, is gaining traction in the regulated U.S. market, with major exchanges like Coinbase and Cboe planning to offer these products [3][9] - The appeal of perpetual contracts lies in their high leverage, allowing traders to amplify their positions significantly, but this also poses substantial risks [4] Industry Trends - Perpetual contracts now account for approximately 68% of Bitcoin trading volume, driven by a surge in speculative trading during the recent bull market [5] - Major trading platforms are rapidly integrating perpetual contracts into their offerings, with Coinbase and Robinhood leading the charge [6][8] - The profitability of these trading platforms is evident, as seen in Robinhood's Q2 report where cryptocurrency and options trading contributed nearly 80% of its trading revenue [8]

Group 1 - Recent reports indicate that scammers are impersonating Coinbase, claiming a partnership with password management tool Dashlane [1] - Coinbase has clarified that it has not established any partnership with Dashlane or any password manager, urging users not to install extensions or log into third-party accounts based on others' instructions [1]

Core Insights - The cryptocurrency market is experiencing significant volatility, with over $1.5 billion in long positions liquidated, leading to the most severe flash crash in nearly a month [1] - The introduction of perpetual contracts, a type of derivative with no expiration date, is gaining traction in the regulated U.S. market, indicating a shift towards mainstream adoption by major financial institutions [3][6] Perpetual Contracts Overview - Perpetual contracts allow traders to hold positions indefinitely, with profits and losses directly tied to the price movements of underlying assets like Bitcoin [3] - The appeal of perpetual contracts lies in their high leverage, enabling traders to control larger positions with smaller amounts of capital [4] Market Dynamics - The funding rate mechanism is used to keep perpetual contract prices aligned with spot prices, impacting the profitability of long and short positions [5] - Perpetual contracts now account for approximately 68% of Bitcoin trading volume, reflecting explosive growth in popularity over the past year [5] Institutional Engagement - Major trading platforms, such as Coinbase and Robinhood, are rapidly integrating perpetual contracts into their offerings, highlighting the lucrative nature of this market [6][8] - Robinhood reported that cryptocurrency and options trading contributed nearly 80% of its trading revenue in Q2, showcasing the financial benefits of engaging in this space [8] Competitive Landscape - Other firms, including Gemini, are also entering the market with high-leverage perpetual contracts, indicating a competitive environment among brokers [10]

Photo by BeInCrypto The US Senate Finance Committee announced that it will hold a hearing on October 1 to examine how digital assets should be taxed. Industry leaders, including Coinbase, are expected to provide testimony on taxation challenges and potential legislative reforms. Senate Gathers Industry Feedback on Tax Update On Wednesday, Senate Finance Committee Chairman Mike Crapo confirmed that the hearing, titled “Examining the Taxation of Digital Assets,” will feature testimony from Lawrence Zlatki ...

Coinbase (Nasdaq: COIN) CEO Brian Armstrong predicts that the price of Bitcoin will rise to $1,000,000 by 2030, and he is citing regulatory clarity, an increase in government adoption, and big demand from institutions as catalysts for its continued rise. Armstrong told Fox Business that there "are a couple of big tailwinds" such as bipartisan progress on crypto legislation, U.S. efforts to create a strategic Bitcoin reserve, and continued ETF inflows, which he thinks could supercharge adoption. He added: " ...

NEW: Solana #memecoin $TROLL to begin spot trading on Coinbase https://t.co/akxY0NHLnd ...

Join the fun. ↓https://t.co/Bj2fj8sQaf ...

Core Insights - Coinbase is launching two new non-dollar stablecoins based on the local currencies of Singapore and Australia to encourage global onboarding [1][2][4] - A consumer sentiment survey indicates that 70% of local consumers in these countries are interested in non-dollar stablecoins, suggesting a significant market opportunity [1][5] - The new stablecoins, AUDD and XGSD, are fully backed by fiat collateral and aim to cater to both institutional clients and retail traders [6][7] Expansion Strategy - The introduction of local currency stablecoins is part of Coinbase's broader expansion strategy, which includes advancements in AI and deeper integration with traditional finance [2][4] - By listing these stablecoins, Coinbase anticipates a growing trend towards assets based on fiat currencies other than the US dollar [3][4] Market Potential - Singapore and Australia are identified as key markets for stablecoin expansion, with Coinbase already having established partnerships in Australia [6] - The successful implementation of these stablecoins could reveal a previously untapped market for local currency stablecoins [5]

Coinbase leads $14.6 million round in Bastion as firm leans into stablecoin infrastructure https://t.co/YqOy1MT78f ...

Base’s potential has always been clear.Now, with skyrocketing activity, scaling infra, a new app, and a token (potentially) on the way, it’s entering a new age.To dig deeper, I spoke with @jessepollak about what’s driving Base’s growth — and the vision going forward 👇~~ Analysis by @davewardonline ~~Base ChainSince spring, @base's chain has evolved significantly. DeFi TVL has nearly doubled to $5B, with protocols like @MorphoLabs and @aave tripling their value locked. Morpho’s Bitcoin-backed loans, integrat ...